A "holy grail" Michael Jordan trading card has set a new record by selling for $350,100 in an eBay auction this week.

The 1997-98 Precious Metal Gems (PMG) Green card was one of 10 produced and is the only one to have been authenticated and graded by the Professional Sports Authenticator (PSA) service, according to Phil Thompson of the Chicago Tribune.

"We call it a 'holy grail' because it's so scarce and so desired that you just frankly never see it," said Brent Huigens, CEO of PWCC Marketplace, which handled the sale.

"This is the first one I've ever handled in my life. Most people have never even seen an image of one."

A representative for eBay said the auction set a record for the most expensive basketball card ever sold through the website.

"I believe it's the highest-selling Jordan card of all time," said Rich Mueller, editor of Sports Collectors Daily. "His rookie card, even a PSA 10, (which is) gem mint - there aren't a ton of those around - typically sells for $20,000 to $25,000.

"There have been other pieces of Jordan memorabilia - game-worn shoes, important game-worn jerseys - that have sold for pretty strong prices. But in terms of cards, that's unprecedented."